Expert defends buy-to-let investors

News Category: Industry News

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A leading property website has criticised the Chartered Institute of Housing (CIH) for saying that buy-to-let landlords have prevented first-time buyers getting a foot on the property ladder.

Stuart Law, chief executive of Assetz, said that he disagreed with CIH president Paul Diggory - who recently called on the government to abolish tax relief for buy-to-let investors.

Mr Law explained: "To suggest that buy-to-let landlords have caused house prices to go up and that they should now be victimised, singled out from other businesses, is a simplistic and blinkered view.

"We have also seen the Institute of Directors backing up this misguided suggestion. As a member myself, I in no way support this stance and was never consulted before they took the decision to speak out, supposedly on my behalf."

He added that recent Rics figures showed that demand for rental properties is currently outstripping supply and that a reduction in landlord numbers could force rents to rise sharply.

Recently, Paragon reported that an uncertain housing market was fuelling rental demand and helping to push landlord's returns up.

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